WASHINGTON — President Biden on Tuesday announced harsh new sanctions aimed at punishing Russia for what he called “the beginning of a Russian invasion of Ukraine,” joining European leaders in imposing severe economic consequences for blatant violations of national sovereignty.
Speaking from the East Room of the White House, Mr. Biden condemned President Vladimir V. Putin of Russia for his aggression against Ukraine, saying that the Russian action is “a flagrant violation of international law and demands a firm response from the international community.”
Mr. Biden said the United States is imposing “full blocking” on two large Russian financial institutions and “comprehensive sanctions” on Russian debt.
“That means we’ve cut off Russia’s government from Western finance,” he said. “It can no longer raise money from the West and cannot trade in its new debt on our markets or European markets either.”
He also said that the United States would impose sanctions on Russian elites and their families, an effort to ensure that those closest to Mr. Putin do not escape financial pain that is expected to hit hard for average Russian citizens. Biden calls Putin’s actions the ‘beginning of a Russian invasion of Ukraine.’ » | The New York Times | Tuesday, February 22, 2022
